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DUBLIN, Ireland, July 27, 2021 (GLOBE NEWSWIRE) -- João Pedro Matos Fernandes, the Portuguese Minister of Environment and Energy Transition, and João Galamba, the Portuguese Secretary of State for Energy, attended an event earlier today hosted by Fusion Fuel Green PLC (NASDAQ: HTOO) ("Fusion Fuel", or "the Company") at its H2Évora green hydrogen demonstration plant in Évora, Portugal. Also in attendance were the Mayor of Évora, Carlos Pinto de Sá, as well as the Moroccan Ambassador to Portugal, Othmane Bahnini, and a delegate from the Australian Embassy in Lisbon, who joined given the large-scale projects and strategic partnerships Fusion Fuel has in their respective countries.
Phase I of Fusion Fuel’s Évora Project includes 15 HEVO-SOLAR units that will produce 15 tons of green hydrogen per year and will avoid the emission of 135 tons of CO2 annually. That hydrogen will be stored and converted into renewable electricity through a fuel cell, to be supplied by Ballard Power Systems, and then fed into the grid during periods of peak demand. The integration of Fusion Fuel’s solar-to-hydrogen HEVO technology and Ballard’s fuel cell, the FC Wave, will serve as a proof of concept for the use of hydrogen as a green energy storage vector and "off-grid" power supply.
This project in Évora marks the beginning of several utility-scale green hydrogen projects throughout the country in locations such as Sines and Portalegre, and heralds a new era of innovation in clean hydrogen technology in Portugal. The technology used for these projects will all be manufactured in Portugal at Fusion Fuel’s new production facility in Benavente.
Speaking about the project, João Wahnon, Head of Business Development at Fusion Fuel, commented “We are thrilled to have our partners for this project, Ballard and PRF, which has created the hydrogen piping network at H2Évora, here with us today. This project is an important milestone for Fusion Fuel and will serve as the platform for the larger, more strategic projects that we have been working on over the last years. The visit from the Minister and the Secretary of State not only highlights Portugal’s commitment to the green hydrogen economy but also underscores Fusion Fuel’s own commitment to making Portugal’s green hydrogen aspirations a near-term reality.”
João Pedro Matos Fernandes, the Portuguese Minister of Environment and Energy Transition, added: “These projects that were presented today by Fusion Fuel make us believe in two things: that it is possible to produce green hydrogen in Portugal and above all using Portuguese technology. What we have seen here today is absolutely innovative and revolutionary, and it is this same technology that is fundamental to achieving Portugal’s hydrogen objectives and will enable us to establish a large green hydrogen export market in the near future."
About Fusion Fuel Green PLC
Fusion Fuel Green PLC is an emerging leader in the green hydrogen space, committed to accelerating the energy transition and decarbonizing the global energy system by making zero-emissions green hydrogen commercially viable and accessible. Fusion Fuel has created a revolutionary proprietary electrolyzer solution that allows it to produce hydrogen at highly competitive costs using renewable energy, resulting in zero-carbon emissions. Fusion Fuel’s business lines includes the sale of electrolyzer technology to customers interested in building their own green hydrogen capacity, the development of hydrogen plants to be owned and operated by Fusion Fuel and active management of the portfolio of such hydrogen plants as assets, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “would,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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